The "Big and Beautiful Act" in the US will face its final hurdle tonight at 8 PM! Is there a risk of Republican members in the House voting against it?

The House of Representatives voted on the "Big America Act" tonight, tax reform, social welfare cuts and debt limit increases are intertwined, and the market waits for the result (Synopsis: Crypto wins again?) In-depth into Trump's "Big and American Act", why cryptocurrencies are big winners) (Background added: Trump's "Big and American Act" raises the debt ceiling to $5 trillion, which is beneficial to Bitcoin? Historical data tells you that the US House of Representatives will hold a final vote on the "Big Beautiful Bill Act" (One promoted by President Trump at 20 o'clock Taiwan time, OBBBA). The case passed the Senate 51-50 the day before, and Vice President Vance cast a key vote, paving the way for three major policies: tax reform, spending and the debt ceiling. What is the Big and American Act in simple terms? The Great America Act extends and expands the 2017 tax cuts and adds new tax cuts, which may increase the deficit by about $3.8 trillion over the next decade. While cutting Medicaid and other Medicaid by $930 billion, the Yale study estimates that more than 10 million low-income earners are at risk of losing coverage. Education loan reforms could save $330 billion, and food stamp subsidies have been tightened. On the other hand, defense and border security each added $150 billion, and the federal debt ceiling plan increased by a record $4 trillion at a time. Green energy tax credits and subsidies have shrunk sharply, and there are concerns that the United States is giving way to China in the new energy competition. The controversy over the bill in the United States has focused on "benefiting the rich and exacerbating inequality." Three Republican senators Collins, Tillis and Paul voted against health care and debt limits yesterday. The Democratic Party criticized the case for "robbing the poor and helping the rich." Yesterday's lengthy debate in the Senate lasted 27 hours and the 1,118-page bill underscored its complexity. Tech provisions are also in the spotlight: the Senate removed a federal regulatory ban on AI by 99 to 1, while cryptocurrency tax incentives were not supported. The Yale team estimates that US real GDP growth is expected to increase by up to 0.6 percentage points per year from 2025 to 2027, but new debt may push up by another $3 trillion in a decade, and interest rates and inflation may rise slightly. According to Fox News reporter Chad Pergram, members of the House Liberal group who have not yet expressed their position are gradually approaching a common agreement that will prompt those who have not yet voted to "vote yes" and may allow lawmakers who were previously opposed to "vote for it." If the House of Representatives succeeds in breaking through tonight, Trump will sign a law on the 4th at the earliest, establishing the line of "small government, big national defense". If it is blocked again, markets will reassess the US fiscal outlook. Related Stories U.S. Goes All-Out for Crypto: Senate Regulatory Hearing Invites Ripple, Paradigm. REX Shares announced that the first Solana pledged ETF in the United States "went public on Wednesday", and the SOL once approached $160 "The US "Big and American Act" finally broke through at 8 o'clock tonight! House Republicans have a vote-running crisis? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)